Soybeans are trading the final session of the week, with contracts up 6 to 8 cents across most months, pulling back from early double digit gains. Soymeal is also pulling off the highs, with contracts up $2 to 5 at midday. Soy Oil is mixed, with May up 13 points and July down 3.

There were 146 deliveries vs. May meal overnight, all stopped by a Stonex client. Bean oil deliveries shrank to only 79 contracts, with a handful stopped by ADMIS.  There were 196 contracts issued against May soybeans, with ADM stopping 179 for the house account. 

USDA issued a flash sale announcement of 122,000 MT of soybeans sold to unknown destinations this morning. 

StoneX left their Brazilian soybean crop estimate at 150.8 MMT in their latest estimates. Rains in southern Brazil have caused some localized flooding, with Rio Grande Do Sul just 66% harvested according to AgRural. The BAGE has Argentina at 51 MMT, unchanged from the previous last year, with harvest at 36.2% complete.

May 24 Soybeans  are at $11.97 1/2, up 7 1/2 cents,

Nearby Cash  is at $11.46, up 6 1/4 cents,

Jul 24 Soybeans  are at $12.05, up 6 cents,

Nov 24 Soybeans  are at $11.95 1/2, up 7 3/4 cents,

New Crop Cash  is at $11.32 3/4, up 8 1/8 cents,